The objective of bank fixed deposit is to earn better returns on idle money than savings account, FD interest rates varies from bank to bank depending upon tenure. To create an fixed deposit, you require lump sum investment for a fixed tenure and on this invested amount, banks offer you to get a fixed interest periodically till the end of the term. Now-a-days many banks offer competitive & attractive interest rates on FD for Senior Citizens and NRE/ NRO customers. You can also calculate FD interest rate, this will help you to take a proper investment decision.
The advantage of FD is that bank offers loan facility upto 90% of the amount on the FD and the interest rate to such loan is around 0.50% to 2.00% higher than the fixed deposit rate. Another advantage of FD is periodic income (interest) can be transferred periodically to savings account. To know more advantage of fixed deposit check diffrence between FD Vs RD.
The disadvantage of FD is tax deduction at source (TDS) at the rate of 10% on interest earned, if it exceeds Rs. 10,000 in one financial year.
The highest interest rate is offered by the ESAF Small Finance Bank (for 12 months) at 8.75% per annum and Suryoday Small Finance Bank (for 12 months) at 8.50% per annum followed by Utkarsh Small Finance Bank (for 12 months) 8.25%.
|Bank||Tenure||FD Interest Rate (p.a.)||Find Interest Rates||Calculate|
|Esaf Small Finance Bank||12 Months||8.75%|
|North East Small Finance Bank||12 Months||8.50%|
|Suryoday Small Finance Bank||12 Months||8.50%|
|Equitas Small Finance Bank||12 Months||8.50%|
|Utkarsh Small Finance Bank||12 Months||8.50%|
|Ujjivan Small Finance Bank||12 Months||8.30%|
|Indusind Bank||12 Months||8.00%|
|Rbl Bank||12 Months||8.00%|
|Fincare Small Finance Bank Ltd||12 Months||8.00%|
|The Nainital Bank||12 Months||7.90%|
|Capital Small Finance Bank||12 Months||7.65%|
|Laxmi Vilas Bank||12 Months||7.60%|
|Karnataka Bank||12 Months||7.50%|
|Dbs Bank Ltd||12 Months||7.50%|
|Standard Chartered Bank||12 Months||7.40%|
|Tamilnad Mercantile Bank||12 Months||7.40%|
|City Union Bank||12 Months||7.35%|
|Bandhan Bank||12 Months||7.35%|
|Hdfc Bank||12 Months||7.30%|
|Axis Bank||12 Months||7.30%|
|Kotak Mahindra Bank||12 Months||7.30%|
|Jammu And Kashmir Bank||12 Months||7.30%|
|Federal Bank||12 Months||7.30%|
|Karur Vysya Bank||12 Months||7.25%|
|Yes Bank||12 Months||7.25%|
|Idbi Bank||12 Months||7.25%|
|Au Small Finance Bank||12 Months||7.00%|
|Oriental Bank Of Commerce||12 Months||7.00%|
|Dcb Bank||12 Months||7.00%|
|Canara Bank||12 Months||7.00%|
2019 April 19 is a bank holiday in Andaman And Nicobar Island due to Good Friday.
2019 April 21 is a bank holiday in Tripura due to Garia Puja.
2019 April 27 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 May 01 is a bank holiday in Andhra Pradesh due to May Day / Labour Day.
2019 May 01 is a bank holiday in Maharashtra due to Maharashtra Din.
2019 May 07 is a bank holiday in West Bengal due to Rabindranath Tagore Jayanti.